Bend the Knee to CHAINLINK or Miss It’s Next Epic RUN!!

Egggg yolk what’s the action with the recruits of the Chico Army & amp. If you're new looking for something to do step right up to this crew & amp drop, the title of viewer of the tube., My name is Tyler and the training to join my army makes the navy seals look.

Easy….You know our future Rambo’s it’s time for Chico Crypto. Well, I said I was going to do it….cover all the pieces of Ethereum which will position it into becoming cryptocurrencies defacto settlement, layer.

We’ve covered scaling and data availability already so today, it’s time to dive into decentralized oracles ..., one of the more critical pieces as it Solves the oracle problem of blockchains., You hear oracles, especially decentralized.

You better know your boy Chico is about to let one RIP & amp get stinky., So Chainlink it’s a wild company and protocol to be a part. Of. Price wise it’s been known to be one of the more volatile crypto’s having extreme FOMO cycles back down extreme fomo cycle back down, .

.. and most recently went back down from a FOMO cycle, although the price has been slowly but surely creeping back up. Now, in The next 6 months, things are going to get highly interesting once again, with LINK as it’s ultimate roadmap gets further into production.

Production. What do you mean? I thought Chain Link was live right now on the mainnet. Well, that tis true chainlink has the highly popular oracle price reference feeds, live and in production from their network of nodes, creating a decentralized per example, ETH USD price feed.

. Now I’m sure you guys heard about it. A new “hot”, DeFi protocol came and went. Harvest. Finance was attacked, 24 million stolen and the protocol lost all the lockup 570 million in a flash bank run.

. So how was the 24 million stolen? Well, bad freaking code, but nothing to do with “base” solidity: contract code, bad oracle, code., The harvest, hack, wasn't a hack, it was an exploit of their oracle.

Harvest. Finance was relying on a single on chain oracle price feed from Curve finance .... Their price feed., You cannot rely on a single source of information, that’s not validated, and that is susceptible to manipulation.

. If they would have used, LINK harvest would have been secure from the oracle flash attack that was pulled off ... and this attack isn’t old. It has been pulled off, before. Chainlink, God on twitter, said “This.

Specific attack was explained by @ samczsun over a year ago and is the same attack vector that afflicted bZx earlier this year., Except this time the sole oracle was CurveFinance.. This attack vector was also described in detail by Chainlink in an article earlier this year as well.

Secure price feeds require full market coverage. This is why # Chainlink pulls from multiple data aggregators and not just from a single manipulatable DEX. So the value use case for chainlink is once again demonstrated & amp.

If a new DeFi product on the Ethereum mainnet is holding out on using chainlink for it’s price feeds, ..., I would be worried., But chainlink is soooo much more than just price feeds. My stinky friends.

And I’ve shown this before the Chainlink token. Contract specifically erc677 includes a specific function. Transfer and call..you can view data on this function by using bloxy and the number of transaction calls.

The orange has overall been steadily growing…. This growth means chainlink oracle, node growth as transfer and call is specific to internal transactions from chainlink, because if you scroll down the function, senders are all chainlink smart contracts and internal transitions from those smart contracts, some of them price feeds like the BTC/USD aggregator.

, But some Of these aren’t going to have anything to do with price feeds and I’m telling you things are about to blow up regarding “transfer & amp, call” ..., so Chainlink, VRF or chainlink Verifiable Randonmness function just went live on the mainnet.

. Yes, you heard that right, it’s a function, ... and it’s simple, how it works. 1. a dapp sends a request for randomnes. 2. Chainlink nodes generate randomness and send proofs to the VRF contract.

3.. The VRF contract then verifies the randomness and 4. Smart contract application receives that randomness.. So going through those steps, you have request, generation, send verify and finally receive .

.. many steps, five to be exact, that could all take a single smart contract. Execution. AKA not feasible because of the high gas fees. But chainlink with its ability for reducing the high gas fees with 677 and internal transactions, makes this economically feasible and still bulletproof, secure and decentralized.

That’s why you see the mainstream dapps already flocking to VRF. PoolTogether, the Decentralized, no loss, lottery, dapp, backed by Coinbase, just put out a blog post, explaining how v3 will be using VRF for their randomness generation in picking the lottery winners.

Mainstream. Adoption of Link within the cryptosphere is only going to ramp up with VRF ..., meaning the 96. As of now LINK nodes will be much more data and transactions through them running many more Jobs.

. Now, as a Chainlink token holder, how does this help Well? Link nodes are paid for the jobs they perform. Requesters are paying them in LINK. It’s a valuable thing to be a solid, reliable used, chainlink node, as since staking isn’t out you don’t have to share the rewards.

Now, as you can see, Link Pool is second on the node list, with 83 feeds on the most jobs run over 146 thousand.. Well, they put out a blog post about the economies of their nodes ... and in the section Link Pool Fees.

This is highlighted Any Link tokens that our nodes generate as reward 30 % will be deducted for our fee, and the remaining 70 % will be distributed proportionally between the stakers., Which they have made even better for the community of stakers, a 75/25 split now.

.so, eventually, 75 Percent of the fees being paid to them by requesting dapps will go to link token holders and stakers., But I’m gonna let the Army in on a little secret. Now is the time to be learning about entities like Linkpool.

. Why? You may ask Back into that economies: blog post in the sections Linkpool node queuing, they say, “Places on a node will be granted on a first come first serve basis and rewards will be distributed on a per-node basis, so you will only earn rewards from the node.

Your link is staked on. We will deem a node is full once it has hit a certain amount of Link. Tokens staked on it” And LinkPool has their staking dashboard, ready and live they’re just waiting for staking w/ Chainlink to drop and the floodgates will open.

. But there is more w/ linkpool, like I said now, is the time to learn about them….Matt Beale, co-founder of linkpool responded to an inquiry about what was going on over at linkpool.. He said: “Fine I’ll, give you this ERC20 derivatives & amp strategies” Dropping crumbs .

... Now you ready to get even more crumby, So earlier this month, a large entity, one of the largest custodians of digital assets in the space BitGO announced they were going to be using Chainlink’s oracle network for a proof of reserve function for the assets held in wBTC.

Wrappe bitcoin. Now this wBTC bitcoin on ethereum is worth over 1.5 billion dollars today, ... a crap ton of money, chainlink nodes will be verifying that’s there, including linkpool., But here is where things get even more bbbbulllish for Chainlink and the nodes that are positioning themselves.

To do the networks work., We all know, Paypal went full hard on for crypto.. Well. Last week it was leaked. They were looking to acquire critical crypto firms ..., including BitGO.. So I hope you understand how freaking big that is.

Chainlink nodes are securing BitGO’s 1.5 billion in Bitcoin for just wrapped BTC. How much do you think Paypal will have under their custodianship 1.5 billion secured with Chainlink proof of reserves, will look like little peanuts in maybe just a year.

. Now, I’m sure, you ve heard the mem 1000 per LINK eoy end of year.. Well, that isn’t happening, but if chainlink fulfills its mission, the full roadmap it’s not out of the realm of possibility, much farther into the future.

And part of that roadmap is optimistic, rollups with chainlink nodes.. I spoke Monday on rollups and the teams I talked about were not very far limited, testnets with no general purpose. Smart contract ability.

Well, Arbitrum. They are the furthest with a general purpose. Smart contract rollup, testnet ... and if you didn’t know chainlink nodes, will be executing smart contracts on arbitrum rollup chains..

If rollups are the path to scalability holy freaking christ ... the amount of jobs, the link nodes will be doing will be hard to comprehend. And arbitrum. They dropped some stuff about the rollup testnet a few days ago, with some of the things it works right out.

The box with ... a person is worried, says I don’t see. Chainlink. Arbitrum replies. Chainlink integration will get it’s own tweet., A tweet that may just go down in history.. Cheers I’ll see you next time: [ Music, ] egg yolk.

What's? Action with the recruits of the chico army? And if you're new and you're, looking for something to do, step right up to this crew and drop that title of viewer of the two, my name's. Tyler and the training to join.

My army makes the navy seals look easy indoors: [ Applause, ], [, Music ]. You know our future rambos it's time for chico crypto. Well, i said i was going to do. It cover all the pieces of ethereum which will position it into becoming cryptocurrency's de facto settlement layer.

We've covered scaling and data availability already. So today it's, time to dive into decentralized oracles. One of the more critical pieces, as it solves the oracle problem of blockchains, and if you hear oracles, especially decentralized, you better know your boy chico is about to let one rip and get stanky so chain link it's, a wild company and protocol To be a part of price wise, it's, been known to be one of the more volatile cryptos having extreme fomo cycles back down extreme fomo cycle back down, and most recently it went back down from a fomo cycle.

Although the price has been slowly but surely creeping back up now in the next six months, things are going to get highly interesting once again with that chain link, as its ultimate road map gets further into production production.

What do you mean tyler? I thought chain link was live right now on the mainnet. Well, that is true. Chainlink has the highly popular oracle price reference feeds, live and in production from their network of nodes, creating a decentralized per example.

Ethereum usd price feed and these price feeds decentralized are highly important because i'm sure you guys heard about it. The new hot d5 protocol that came and went harvest finance, it was attacked and 24 million was stolen and the protocol lost all the lock up.

570 million in a flash bank run. So how was that 24 million stolen well bad freaking code, but nothing to do with base solidity contract code, bad oracle code, the harvest hack, wasn't, a hack at all.

It was an exploit of the oracle harvest. Finance was relying on a single on-chain oracle price feed from curb finance their price feed. You cannot rely on a single source of information that's, not validated, and that is susceptible to manipulation.

If they would have used, link harvest would have been secure from the oracle flash attack that was pulled off and this attack isn't old. It has been pulled off before chainlink god on twitter said this specific attack was explained by sam cz sun.

Over a year ago, and it's, the same attack vector that afflicted bzx earlier this year, except this time the sole oracle was curve, finance and then below. He says the attack vector was also described in detail by chain link in an article earlier.

This year, as well, secure prize feeds require full market coverage. This is why chain link pulls from multiple data aggregators, not just from a single manipulatable dex. So the value use case for chain link is once again demonstrated, and if a new d5 product on the ethereum mainnet is holding out on using chain link for its price feeds, i would be worried.

Although chain link is so much more than just price feeds. My stinky friends and i've, shown this before the chainlink token contract, specifically erc 677 includes a specific function, transfer and call you can view the data on this function by using block c and the number of transaction calls.

The orange has overall been steadily growing. This growth means chain link, oracle, node growth as transfer and call is specific to internal transactions from chain link, because if you go down the function, senders are all chain link, smart contracts and internal transactions from those smart contracts.

Some of them price feeds like the btc usd aggregator, so we've, been talking all about oracles and price feeds, but some of those aren't going to have anything to do with price, and i'm telling you Things are about to blow up regarding transfer and call so chain link.

Vrf for chain link, verifiable randomness function just went live on the main net. Yes, you heard that right. It's a function and it's, simple. How it works. Number one: a d-app sends a request for randomness number: two chain-link nodes generate randomness and send proofs to the vrf contract number three.

The vrf contract then verifies the randomness and number four smart contract application receives that randomness. So if you go through those steps, you have request, generation, send verify and finally receive many steps.

Five to be exact that could all take a single smart contract execution. Okay, not feasible because of the high gas fees but chain link with its ability for reducing the high gas fees with 677 and internal transactions, make this economically feasible and still bulletproof, secure and decentralized.

And that's, why you see the mainstream dapps already flocking to the vrf pooled together, the decentralized no-loss lottery d-app, backed by coinbase, just put out a blog post, explaining how v3 will be using vrf for their randomness generation in picking their lottery winners.

So mainstream adoption of link within the cryptosphere is only going to ramp up with the vrf, which means the 96. As of now link nodes will be putting that much more data and transactions through them running that many more jobs.

Now, as a chainlink token holder, how does this help us? Will it ever help us down the road? Well, it will because linked nodes they are paid for the jobs they perform. Requesters are paying them in linked tokens.

So right now it's, a valuable thing to be a solid, reliable used chain link node. So let's. Just go check out some of these nodes. Well, we can see. Link pool is the second on the node list, with 83 feeds and the most jobs run over 146 000.

Well, this link pool they put out a blog post about their economies of their nodes and in the section linkpool fees. This is highlighted any linked tokens that our nodes generate as a reward. 30 will be deducted for our fee and then the remaining 70 will be distributed proportionally between the stakers, which they have made even better for the community of stakers.

It's. A 75-25 split now so eventually 75 of the fees being paid to them. By requesting dapps, we'll, go to link token holders and the stakers, but i'm going to let the army in on a little secret. Now's, the time to be learning about entities like link, pool the big nodes.

Why? You may ask well back into that economy's? Blog post in the section link pool node queuing, they say places on a node will be granted on a first come first serve basis and rewards will be distributed on a print node basis, so you will only earn rewards from the node.

Your link is staked on. We will deem a node as full once it has hit a certain amount of linked tokens staked on it. So you're going to want to stake with the nodes that are being used and link pools. They have their staking dashboard, ready and live.

They're, just waiting for staking with chain link to drop and the floodgates will open, but there's more with link pool, like i said now, is the time to learn about them. Matt beal co-founder of linkpool, responded to an inquiry about what was going on over at link pool.

He said fine, i'll. Give you this erc20 derivatives and strategies dropping crumbs, but now you're ready to get even more crummy. So earlier this month, a large entity, one of the largest custodians of digital assets.

In this space bitgo announced they were going to be using chainlink's, oracle network for a proof of reserve function for the assets held in wbtc, wrap bitcoin. Now this wbtc bitcoin on ethereum is worth over 1.

5 billion dollars. Today, a crap ton of money chain link nodes will be verifying that's there, including link pool, but here's where things get even more bullish for chain link and the nodes that are positioning themselves to do.

The network's work. We all know. Paypal went full full-on hard-on for crypto well. Last week it was leaked that they were looking to acquire critical crypto firms, including bitco. So i hope you understand how freaking big that is chain link's.

Nodes are already going to be securing bitco's, 1.5 billion in bitcoin for just rap btc. Now, how much do you think paypal will have under their custodianship that 1.5 billion secured with chain-link proof of reserves, will look like little peanuts in maybe just a year? So does that mean 1 000 per link eoy a thousand dollars end of year? Well, that isn't happening this year, but if chainlink fulfills its mission, the full roadmap, it's, not out of the realm of possibility much farther into the future and part of that road map is optimistic.

Roll ups with chain link nodes - i spoke monday on rollups and the teams i talked about were very far limited test nets with no general purpose. Smart contract ability well arbitrarum. They are the furthest with a general purpose: smart contract, roll-up test net and if you didn't know chain link nodes will be executing smart contracts on arbitram roll-up chains and if roll-ups are the path to scalability holy freaking christ, the amount of jobs, The lync nodes will be doing will be hard to comprehend and arbitram.

They drop some stuff about the roll-up test net a few days ago with some of the things it works with right out the box, and then a person is worried, says i don't, see chain, link, arbitram replies chain link.

Integration will get its own tweet, a tweet that may just go down in history. Cheers i & # 39. Ll, see you next time: [ Music ]! You